Direct GVA from gold mining in Peru is estimated to be $8 billion, according to the report. “The average amount of economic value added per ounce of gold is US$1,139 and ranges from US$946 in China to US$1,352 in Peru in 2012. The differences between countries reflect variations in labour costs and productivity.” [This Chart Explains Why Gold Moves the Peru ETF]

The country made $70 billion in mining related investments last year, according to Mineweb.

As for the overall Peruvian economy, November 2013 GDP growth, which will be announced Wednesday, is believed to have been 5% and the country’s economic output is expected to grow 6% this year.

iShares MSCI All Peru Capped ETF